ProAssurance Corporation $PRA Shares Bought by Wolverine Asset Management LLC

Wolverine Asset Management LLC lifted its position in ProAssurance Corporation (NYSE:PRA) by 158.7% during the third quarter, Holdings Channel reports. The institutional investor owned 84,790 shares of the insurance provider’s stock after buying an additional 52,012 shares during the quarter. Wolverine Asset Management LLC’s holdings in ProAssurance were worth $2,034,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Qube Research & Technologies Ltd raised its position in ProAssurance by 186.1% in the second quarter. Qube Research & Technologies Ltd now owns 1,491,060 shares of the insurance provider’s stock worth $34,041,000 after acquiring an additional 969,833 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of ProAssurance by 1,310.1% in the 2nd quarter. Hsbc Holdings PLC now owns 939,428 shares of the insurance provider’s stock worth $21,433,000 after purchasing an additional 872,808 shares during the last quarter. Magnetar Financial LLC raised its holdings in shares of ProAssurance by 27.6% in the 2nd quarter. Magnetar Financial LLC now owns 2,956,808 shares of the insurance provider’s stock worth $67,504,000 after purchasing an additional 638,992 shares in the last quarter. LMR Partners LLP lifted its stake in ProAssurance by 287.2% during the second quarter. LMR Partners LLP now owns 806,471 shares of the insurance provider’s stock valued at $18,412,000 after purchasing an additional 598,169 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in ProAssurance by 26.3% during the second quarter. Alliancebernstein L.P. now owns 1,915,673 shares of the insurance provider’s stock worth $43,735,000 after buying an additional 399,194 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

ProAssurance Stock Down 0.1%

Shares of ProAssurance stock opened at $24.19 on Friday. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 37.21 and a beta of 0.09. The stock has a 50-day simple moving average of $24.07 and a 200-day simple moving average of $23.94. ProAssurance Corporation has a 52-week low of $13.90 and a 52-week high of $24.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28.

ProAssurance (NYSE:PRA) last posted its earnings results on Tuesday, November 4th. The insurance provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.13). The business had revenue of $279.55 million during the quarter, compared to analyst estimates of $268.71 million. ProAssurance had a net margin of 3.01% and a return on equity of 4.78%. ProAssurance’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. On average, equities research analysts expect that ProAssurance Corporation will post 0.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PRA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ProAssurance in a research report on Wednesday, October 8th. Zacks Research lowered shares of ProAssurance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Finally, Wall Street Zen raised shares of ProAssurance to a “sell” rating in a research report on Saturday, November 22nd. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $25.00.

About ProAssurance

ProAssurance Corporation is a specialty property and casualty insurance holding company headquartered in Birmingham, Alabama. The company focuses primarily on professional liability coverage for healthcare providers, including physicians, surgeons, dentists and allied health professionals. ProAssurance operates through a group of insurance subsidiaries that underwrite both occurrence- and claims-made policies tailored to the unique risks faced by the medical community.

In addition to professional liability insurance, ProAssurance offers a suite of complementary property and casualty products, such as general liability, workers’ compensation, property and inland marine, and umbrella coverage.